$160,000 shoe box



The cheapest apartment to be had in one of the world's most expensive cities has been sold for the price of a 'high-end family car'. 

London’s cheapest apartment has sold for £79,000 ($160,600), despite being just under seven square metres. 

The tiny Clapton residence was subject to nine separate offers and was viewed 36 times before selling, according to The Telegraph.

Included in the purchase price was a mini fridge and microwave as part of the home’s “compact kitchenette”.

The Telegraph noted that the property can only be bought with cash since it is not large enough for building societies or banks to legally lend the money for purchase.

According to the Telegraph, the flat was described as "an exceptionally rare opportunity for a first-time buyer, landlord or commuter seeking a bolthole to purchase a property in a desirable part of London for the same price as a high-end family car”.

Image source: The Telegraph 

 

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